Will Nifty follow seasonality trend ahead of Diwali? Anand James does the chart reading

“While Nifty has just about managed to get back near the nearest reaction high, it is still below the 14-day SMA. In contrast, both mid and small caps have raced higher with the former now exactly at the 62% retracement from the peak, while the latter has pierced even that is closing in on the record peak, which is just about 1.5% away.”

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